Economists assume that most people
a. act purposefully
b. make decision with some expected outcome in mind.
c. make choices that are not random and chaotic.
d. all of the above.
d
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A government action that can help correct positive externalities is
A) a tax on producers of the good that provides external benefits. B) a subsidy to consumers of the good that provides external benefits. C) an effluent fee charged to producers of the good that provides external benefits. D) regulations aimed at reduced production by sellers of the good that provides external benefits.
When you were 10 years old, your grandparents put $500 into an account for you paying 7 percent interest. Now that you are 18 years old, your grandparents tell you that you can take the money out of the account. What is the balance to the nearest cent?
a. $1,200.00 b. $1,111.77 c. $983.58 d. $859.09